Hot tea inflation in Saudi Arabia stood at -16.710% in April 2023, according to GlobalData’s report on the prices of stock keeping units (SKUs) supplied through online retailers. In Q4 2023, GlobalData monitored the pricing of 33 hot tea SKUs from companies such as Lipton, Carrefour Bio and Higher Living that were sold by e-retailers. Buy the report here.
Pricing is crucial, especially in a challenging economic climate, as competitive pricing and price leadership impact consumers’ choices. GlobalData’s pricing analysis reveals that Danube offered lowest prices of the total SKUs within the hot tea category from October through December 2023, followed by Carrefour and Baqalah. According to the analysis, the price range of $5 and below was the most competitive, with 17 SKUs.
The chart below illustrates price leadership among the covered retailers which offer the highest number of low-priced products in the category. Of all retailers, Danube had greatest share of lowest prices for individual SKUs in hot tea in Saudi Arabia in Q4 2023.
Analysis of the quarterly price data showed that no discounts were offered for hot tea category by the retailers tracked by GlobalData. Among variants, the tracker revealed yellow label; black tea and organic; green tea as the most popular (by number of SKUs) hot tea variants. These were priced 22.81% higher than the average price of a hot tea SKU.
Among the e-retailers tracked by GlobalData, the leading ones, based on the number of SKUs, were Danube, Carrefour, Baqalah, Othaim Markets and . According to the analysis, Baqalah had the lowest average unit price, while the retailer with the widest product assortment was Danube.
The report brings attention to the intricate pricing dynamics within the hot tea market, examining both the SKU and retailer levels, and offering invaluable insights for stakeholders. Notably, Danube, Carrefour and Baqalah stood out as prominent e-retailers, providing competitive pricing for a substantial number of hot tea SKUs. However, to comprehensively grasp hot tea market in Saudi Arabia, continuous tracking of SKU pricing over time is necessary.
For a more detailed analysis of pricing trends in the Saudi Arabia hot tea market, buy the report here.